“We shouldn’t be scared of AI, and at the same time, we shouldn’t let it have a free reign,” remarked Tim Rockwell, the managing director and founder of Energy Strat Asia.
Rockwell was at the AI Summit PH 2023 as part of a panel that discussed the role of artificial intelligence in the energy sector. CoinGeek Backstage reporter Claire Celdran caught up with Rockwell to discuss regulations in AI, its position with the energy sector, and the integration of this tech with blockchain.
Rockwell says that what they touched on during the panel discussion is critical as they delved into important issues like climate change, decarbonization, and energy efficiency.
“In a lot of ways, all roads lead back to energy,” Rockwell said, noting that unlike any sector that can test run and stall, the energy sector has no room for failure, so Rockell’s mantra is to always get things right from the start.
Speaking about regulations around data and AI, the managing director and founder of Energy Strat Asia says there are already frameworks to follow.
“At some ways, for me, it’s really around standardization,” he stated. Rockwell explained that data standardization would bring more transparency to the system, bringing more players and innovation in the space.
Rockwell thinks of blockchain and AI integration as a tool like the metaverse, generating a lot of excitement in the digital industry.
“I would say look at blockchain as a tool. Blockchain contains a lot of information. That information can be used by AI and by algorithms and by generative AI models and tools as well,” he explained.
Rockwell said if we’re going to integrate AI into the energy system, we need to be sure that it’s working efficiently—minimizing the Capital Expenditures (Capex), optimizing Opex spend, predicting customer demand, weather conditions, and looking for ways where to gather more energy sources.
“[Energy is] very complex, and AI can [provide] solutions,” Rockwell noted.
In order for artificial intelligence (AI) to work right within the law and thrive in the face of growing challenges, it needs to integrate an enterprise blockchain system that ensures data input quality and ownership—allowing it to keep data safe while also guaranteeing the immutability of data. Check out CoinGeek’s coverage on this emerging tech to learn more why Enterprise blockchain will be the backbone of AI.
Watch: AI Summit PH 2023 highlights
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